BEUTELS-VANCEER: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BEUTELS-VANCEER
Largest movements
- Receivables within one year -€15,542
down €15,542 (-57.1%), from €27,225 to €11,683
of which Other amounts receivable: -€15,557
- Tangible fixed assets +€13,122
up €13,122 (+9.4%), from €140,238 to €153,360
of which Furniture and vehicles: +€17,381
- Cash -€8,923
down €8,923 (-52.6%), from €16,971 to €8,048
mainly Investment in fixed assets (net) (-€36,415) and Net result for the year (-€20,792)
- Other debts +€24,324
new in 2025: €24,324
- Profit (loss) carried forward -€20,792
new in 2025: -€20,792
- Current portion of long-term debt -€5,778
down €5,778 (-52.1%), from €11,091 to €5,312
- Tax, wage and social debts -€5,600
down €5,600 (-65.6%), from €8,534 to €2,935
of which Taxes: -€5,552
- Gross operating margin -€129,875
down €129,875 (-95.5%), from €136,038 to €6,163
- Taxes -€30,834
no longer reported in 2025 (was €30,834)
- Depreciation +€4,085
up €4,085 (+21.3%), from €19,208 to €23,293
- Other operating charges -€3,800
down €3,800 (-68.7%), from €5,529 to €1,728
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €186,751 | €176,046 | -€10,705 | -5.7% |
| Fixed assets | 21/28 | €140,348 | €153,470 | +€13,122 | +9.3% |
| Tangible fixed assets | 22/27 | €140,238 | €153,360 | +€13,122 | +9.4% |
| Land and buildings | 22 | €76,589 | €71,373 | -€5,216 | -6.8% |
| Plant, machinery and equipment | 23 | €16,810 | €17,768 | +€957 | +5.7% |
| Furniture and vehicles | 24 | €46,838 | €64,219 | +€17,381 | +37.1% |
| Financial fixed assets | 28 | €110 | €110 | = | 0.0% |
| Current assets | 29/58 | €46,403 | €22,576 | -€23,827 | -51.3% |
| Amounts receivable within one year | 40/41 | €27,225 | €11,683 | -€15,542 | -57.1% |
| Trade receivables | 40 | €10,854 | €10,869 | +€15 | +0.1% |
| Other amounts receivable | 41 | €16,371 | €814 | -€15,557 | -95.0% |
| Cash at bank and in hand | 54/58 | €16,971 | €8,048 | -€8,923 | -52.6% |
| Deferred charges and accrued income | 490/1 | €2,207 | €2,845 | +€637 | +28.9% |
| Total equity and liabilities | 10/49 | €186,751 | €176,046 | -€10,705 | -5.7% |
| Equity | 10/15 | €83,931 | €63,139 | -€20,792 | -24.8% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €77,734 | €77,734 | = | 0.0% |
| Distributable reserves | 133 | €77,734 | €77,734 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€20,792 | -€20,792 | |
| Amounts payable | 17/49 | €102,820 | €112,907 | +€10,087 | +9.8% |
| Amounts payable after more than one year | 17 | €78,520 | €77,242 | -€1,278 | -1.6% |
| Financial debts | 170/4 | €78,520 | €77,242 | -€1,278 | -1.6% |
| Amounts payable within one year | 42/48 | €23,989 | €35,664 | +€11,675 | +48.7% |
| Current portion of amounts payable after more than one year | 42 | €11,091 | €5,312 | -€5,778 | -52.1% |
| Trade debts | 44 | €4,364 | €3,093 | -€1,271 | -29.1% |
| Suppliers | 440/4 | €4,364 | €3,093 | -€1,271 | -29.1% |
| Taxes, remuneration and social security | 45 | €8,534 | €2,935 | -€5,600 | -65.6% |
| Taxes | 450/3 | €6,634 | €1,083 | -€5,552 | -83.7% |
| Remuneration and social security | 454/9 | €1,900 | €1,852 | -€48 | -2.5% |
| Other amounts payable | 47/48 | - | €24,324 | +€24,324 | |
| Accrued charges and deferred income | 492/3 | €310 | - | -€310 | |
| Non-recurring operating income | 76A | €124,925 | - | -€124,925 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,208 | €23,293 | +€4,085 | +21.3% |
| Other operating charges | 640/8 | €5,529 | €1,728 | -€3,800 | -68.7% |
| Gross operating margin | 9900 | €136,038 | €6,163 | -€129,875 | -95.5% |
| Operating profit (loss) | 9901 | €111,301 | -€18,859 | -€130,160 | |
| Financial income | 75/76B | €442 | - | -€442 | |
| Recurring financial income | 75 | €442 | - | -€442 | |
| Financial charges | 65/66B | €2,378 | €1,933 | -€444 | -18.7% |
| Recurring financial charges | 65 | €2,378 | €1,933 | -€444 | -18.7% |
| Profit (loss) for the period before taxes | 9903 | €109,365 | -€20,792 | -€130,157 | |
| Income taxes | 67/77 | €30,834 | - | -€30,834 | |
| Profit (loss) for the period | 9904 | €78,531 | -€20,792 | -€99,323 | |
| Profit (loss) for the period to be appropriated | 9905 | €78,531 | -€20,792 | -€99,323 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.